Abstract
Summary
Global Solar Cables Market is valued at approximately USD 688.15 million in 2021 and is anticipated to grow with a healthy growth rate of more than 13.90% over the forecast period 2022-2029. A solar cable is an interlinked cable that is used for interconnecting solar panels and other electrical components in the photovoltaic power generation industry. The Solar Cables market is expanding because of factors such as increasing demand for solar-based projects and rising sustainable approaches in climatic conditions.
Solar and photovoltaic cable systems are those that are used for the transmission of power in a solar or PV installation. Its prevalence has progressively increased during the last few decades. According to Statista, by 2024, solar PV demand is expected to total 125.2 gigawatts around the world. Furthermore, investments in solar energy as per Statista, in 2022, new investments in solar energy projects worldwide totalled around USD 59 billion. Another important component driving space is the rising sustainable approach in climatic conditions. As per Statista, between 2021 and 2030, the global green technology and sustainability market are forecast to grow. In 2021, the size of this market amounted to roughly USD 38.17 billion. Moreover, it is expected to peak at USD 417.35 billion by 2030, increasing at a compound annual growth rate of 21.6%. In addition, as of 2020, 45% of consumers surveyed stated that they were interested in finding brands that were sustainable or environmentally responsible. Likewise, 44% of consumers stated that they were interested in brands that supported recycling. Also, rising technological advancements in the solar photovoltaic industry and increasing adoption of microgrids would create a lucrative growth prospectus for the market over the forecast period However, the high cost of Solar Cables stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Solar Cables Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising awareness of solar panels and growing adoption of clean energy sources. According to Statista, in 2021, net solar power generation in the United States reached its highest point yet at 114.7 terawatt hours of solar thermal and photovoltaic power. Solar power generation has increased drastically over the past two decades. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing awareness about renewable energy resources and their applications in various segments such industrial and residential projects in the market space.
Major market player included in this report are:
General Cable Corporation
Lumberg Holding
Phoenix Contact GmbH&Co. KG
Taiyo Cable Tech Co., Ltd
KBE Elektrotechnik GmbH
Eldra B.V
Amphenol Industrial Products Group
Prysmian Group
Emeren Group Ltd.
Havells India Ltd
Recent Developments in the Market:
In Jan 2022, – Amphenol Industrial Sustainable Technologies, a global leader in interconnect systems, offers a single pole power connector that is designed to exceed the performance of the UTX and H4 family of PV connectors. The Amphe-PV H4 Plus is dual-certified at 1500V DC to UL 6703 and IEC 62852. It enables robust thermal shock performance, exceeds UL dry heat and damp heat exposure requirements.
Global Solar Cables Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Material, Application, Type, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material
Copper
Aluminium
Others
By Type
Stranded
Bifurcated Solid
By End User
Residential
Commercial
Industrial
Utility
By Application
Solar Panels Wiring
Underground Service Entrances
Service Terminal Connections
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Contents
1 Executive Summary
1.1 Market Snapshot
1.2 Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1 Solar Cables Market, by Region, 2019-2029 (USD Million)
1.2.2 Solar Cables Market, by Material, 2019-2029 (USD Million)
1.2.3 Solar Cables Market, by Type, 2019-2029 (USD Million)
1.2.4 Solar Cables Market, by End User, 2019-2029 (USD Million)
1.2.5 Solar Cables Market, by Application, 2019-2029 (USD Million)
1.3 Key Trends
1.4 Estimation Methodology
1.5 Research Assumption
2 Global Solar Cables Market Definition and Scope
2.1 Objective of the Study
2.2 Market Definition & Scope
2.2.1 Scope of the Study
2.2.2 Industry Evolution
2.3 Years Considered for the Study
2.4 Currency Conversion Rates
3 Global Solar Cables Market Dynamics
3.1 Solar Cables Market Impact Analysis (2019-2029)
3.1.1 Market Drivers
- 3.1.1.1 Increasing demand of solar based projects
- 3.1.1.2 Rising sustainable approach in climatic conditions
3.1.2 Market Challenges
- 3.1.2.1 Fluctuating prices of raw materials
3.1.3 Market Opportunities
- 3.1.3.1 Rising technological advancements in the solar photovoltaic industry
- 3.1.3.2 Increasing adoption of microgrids
4 Global Solar Cables Market Industry Analysis
4.1 Porter’s 5 Force Model
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitutes
4.1.5 Competitive Rivalry
4.2 Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3 PEST Analysis
4.3.1 Political
4.3.2 Economical
4.3.3 Social
4.3.4 Technological
4.4 Top investment opportunity
4.5 Top winning strategies
4.6 Industry Experts Prospective
4.7 Analyst Recommendation & Conclusion
5 Risk Assessment: COVID-19 Impact
5.1 Assessment of the overall impact of COVID-19 on the industry
5.2 Pre COVID-19 and post COVID-19 Market scenario
6 Global Solar Cables Market, by Material
6.1 Market Snapshot
6.2 Global Solar Cables Market by Material, Performance - Potential Analysis
6.3 Global Solar Cables Market Estimates & Forecasts by Material 2019-2029 (USD Million)
6.4 Solar Cables Market, Sub Segment Analysis
6.4.1 Copper
6.4.2 Aluminium
6.4.3 Others
7 Global Solar Cables Market, by Type
7.1 Market Snapshot
7.2 Global Solar Cables Market by Type, Performance - Potential Analysis
7.3 Global Solar Cables Market Estimates & Forecasts by Type 2019-2029 (USD Million)
7.4 Solar Cables Market, Sub Segment Analysis
7.4.1 Stranded
7.4.2 Bifurcated Solid
8 Global Solar Cables Market, by End User
8.1 Market Snapshot
8.2 Global Solar Cables Market by End User, Performance - Potential Analysis
8.3 Global Solar Cables Market Estimates & Forecasts by End User 2019-2029 (USD Million)
8.4 Solar Cables Market, Sub Segment Analysis
8.4.1 Residential
8.4.2 Commercial
8.4.3 Industrial
8.4.4 Utility
9 Global Solar Cables Market, by Application
9.1 Market Snapshot
9.2 Global Solar Cables Market by Application, Performance - Potential Analysis
9.3 Global Solar Cables Market Estimates & Forecasts by Application 2019-2029 (USD Million)
9.4 Solar Cables Market, Sub Segment Analysis
9.4.1 Solar Panels Wiring
9.4.2 Underground Service Entrances
9.4.3 Service Terminal Connections
10 Global Solar Cables Market, Regional Analysis
10.1 Solar Cables Market, Regional Market Snapshot
10.2 North America Solar Cables Market
10.2.1 U.S. Solar Cables Market
- 10.2.1.1 Material breakdown estimates & forecasts, 2019-2029
- 10.2.1.2 Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.3 End User breakdown estimates & forecasts, 2019-2029
- 10.2.1.4 Application breakdown estimates & forecasts, 2019-2029
10.2.2 Canada Solar Cables Market
10.3 Europe Solar Cables Market Snapshot
10.3.1 U.K. Solar Cables Market
10.3.2 Germany Solar Cables Market
10.3.3 France Solar Cables Market
10.3.4 Spain Solar Cables Market
10.3.5 Italy Solar Cables Market
10.3.6 Rest of Europe Solar Cables Market
10.4 Asia-Pacific Solar Cables Market Snapshot
10.4.1 China Solar Cables Market
10.4.2 India Solar Cables Market
10.4.3 Japan Solar Cables Market
10.4.4 Australia Solar Cables Market
10.4.5 South Korea Solar Cables Market
10.4.6 Rest of Asia Pacific Solar Cables Market
10.5 Latin America Solar Cables Market Snapshot
10.5.1 Brazil Solar Cables Market
10.5.2 Mexico Solar Cables Market
10.5.3 Rest of Latin America Solar Cables Market
10.6 Rest of The World Solar Cables Market
11 Competitive Intelligence
11.1 Top Market Strategies
11.2 Company Profiles
11.2.1 General Cable Corporation
- 11.2.1.1 Key Information
- 11.2.1.2 Overview
- 11.2.1.3 Financial (Subject to Data Availability)
- 11.2.1.4 Product Summary
- 11.2.1.5 Recent Developments
11.2.2 Lumberg Holding
11.2.3 Phoenix Contact GmbH&Co. KG
11.2.4 Taiyo Cable Tech Co., Ltd
11.2.5 KBE Elektrotechnik GmbH
11.2.6 Eldra B.V
11.2.7 Amphenol Industrial Products Group
11.2.8 Prysmian Group
11.2.9 Emeren Group Ltd
11.2.10 Havells India Ltd
12 Research Process
12.1 Research Process
12.1.1 Data Mining
12.1.2 Analysis
12.1.3 Market Estimation
12.1.4 Validation
12.1.5 Publishing
12.2 Research Attributes
12.3 Research Assumption